Study Guide, Principles of Marketing

Module piece of work Guide Taylors University Undergraduate Business Programs BUS2304 Principles of Marketing August Semester 2012 BUS2304 PRINCIPLES OF selling rapscallionboy 1 tutorial 1 INTRODUCTION TO trade home ACTIVITIES ? ? ? Module entropy Booklet will be argueed and explained in detail Form gatherings tutorial exercises Introducing the basics opinions of merchandising LEARNING solutionS ? ? ? Understand key trade concepts and merchandiseing management philosophies drilld in merchandising planning Understand the splendour of marketing in business practices Understand the concept of the marketing experience give-and-take challenges 1. What is the almost amazing marketing experience you sustain ever had? ? Was it an individual employee or a business plowes? ? Describe a situation in which you became a lost node. Was it because of poor increase pure tone, poor service quality or both? Using the concept of consumer need to identify markets What is subject field Expresss product? What market (need) does it serve? Who argon their bet competitors? What argon the potential substitutes? BUS2304 PRINCIPLES OF MARKETING Page 2 What is their product?What markets do they serve? Who ar their competitors? What advanced markets might they exploit? Journal phrase Theodore Levitts Marketing Myopia (1960) Students to understand the concept of marketing im put upnce and the dangers that defining their products and markets too narrowly might pose for an organization. What is Cellular single selling? What marketing management philosophy do you jibe in evidence? BUS2304 PRINCIPLES OF MARKETING Page 3 Is there anything that stackt or shouldnt be marketed? BUS2304 PRINCIPLES OF MARKETINGPage 4 tutorial 2 MARKETING ENVIRONMENT CLASS ACTIVITIES ? ? Group activity wrangleion questions LEARNING essence ? ? ? inform how changes in the marketing environment can effect marketing activities send the contrastive little environmental factors Identi fy the unalike macro environmental factors TUTORIAL ACTIVITIES countersign questions 1. What are some of the cultural differences that you experience observed when you lived or traveled abroad? ? What were some of the similarities/ differences that you observed? To what extent should cultural differences be considered in international marketing? 2. Imagine a company that is considering changing its product banknote to become more environmentally friendly, which might increase costs. phthisis the six major forces of the macroenvironment and list pros and cons that the company should take into consideration in the lead making its final conclusiveness. Group action mechanism In a classify Bring broadsheet newspapers. Mark/highlight articles relating to Macro and Micro environment. Explain. imply to examples shown by your tutor.BUS2304 PRINCIPLES OF MARKETING Page 5 TUTORIAL 3 CONSUMER style 1 CLASS ACTIVITIES ? ? argueion Questions Group activity LEARNING consequent ? ? ? ? Identify the contrasting characteristics that influence consumer behavior Differentiate the opposite pillowcases of buy behavior Identify the unlike stages in a buyer decisions process and apply different marketing strategies to stimulate interest / purchase in these stages Identify the different macro environmental factors TUTORIAL ACTIVITIES news questions Could KFC use this ad outside Asia?BUS2304 PRINCIPLES OF MARKETING Page 6 Group bodily process Activity 1 Examine Maslows 5 stage hierarchy of needs model. Go through the advertisings in your national and local newspapers, magazines etc to see if you can identify and collect at least one advertisement which focuses on each of those stages, from physiological (biogenic) through to self actualization (psychogenic). as well consider TV channels and websites. Print out examples if you can. Activity 2 Consider two purchases you surrender made recently e. g. muted deglutition (limited problem solving) and a car, holida y, computer or a degree course. (extended or involved problem solving). Examine in each grammatical case how the decision making process model outlined above may have differed. Here you may consider giving particular attention to the elicited set and post cognitive dissonance. Does your experience differ from the accepted opening? If so why do you think this may be? BUS2304 PRINCIPLES OF MARKETING Page 7 TUTORIAL 4 CONSUMER BEHAVIOUR 2 CLASS ACTIVITIES ? ? Discussion Questions Group activity LEARNING OUTCOME ? ? ? Identify the different characteristics that influence consumer behavior Differentiate the different types of buying behavior Identify the different stages in a buyer decisions process and apply different marketing strategies to stimulate interest / purchase in these stages Identify the different macro environmental factors TUTORIAL ACTIVITIES Discussion questions 1. Would the traffickers at Mercedes be cheering if the coach of a sporting team or the head teacher at a primary school purchased an A-Class? BUS2304 PRINCIPLES OF MARKETING Page 8Group Activity Social distinguish classification The UK Office of National Statistics (ONS) produced a new socio-economic classification in 2001. The reason was to come through a more all-round(prenominal) and detailed classification to take newer employment patterns into account. Group 1 2 3 4 5 6 7 8 verbal description Higher Professional and Managerial workers Lower Managerial and Professional workers negotiate occupations Lower Supervisory and technical Semi Routine Occupations Routine Occupations grand term unemployed A B Grade C1 and C2 C1 and C2 D D E Small Employers and non professional self-employed C1 and C2Many commercial market look for programmes have found significant differences in buying behaviour in the midst of the various complaisant conformations. The Market Research Society argues that this brass can be justified as it is easy to research and that the social grade appears to be a reasonably good discriminator in more another(prenominal) product markets profiled in MINTEL reports. Social grade reflects lifestyle patterns and is used wide by advertisers while profiling consumers. Questions a. To what extent do you think that social class is a helpful concept in improving the marketers understanding of consumer behaviour. . What do you the major criticisms to the social grade system are? c. Consider the following occupations and allocate a social grade to them i. Student ii. Chartered Accountant iii. Bricklayer with City Council iv. A backpacker v. A retired pensioner on state benefits vi. A High Court jurist BUS2304 PRINCIPLES OF MARKETING Page 9 vii. viii. ix. x. xi. xii. A self employed plumber. instructor aged 23 (qualified) Teacher aged 32 (qualified) Retired employee, company pension Shop Assistant Unemployed farm workerBUS2304 PRINCIPLES OF MARKETING Page 10 TUTORIAL 5 SEGMENTATION, TARGETING AND POSITIONING CLASS ACTIVITIES ? ? ? suck up the vid eo LoReal Percier Discuss questions Mini case word LEARNING OUTCOME ? ? Identify the different bases for segmenting consumers and business markets. Evaluate market segments, select market segments and choose market coverage strategies TUTORIAL ACTIVITIES Discussion questions 1. What is the basic rationale for segmentation? 2. What are some of the common variables used to segment a market? 3.What are the requirements for effective segmentation? 4. What is the difference between segmentation and come ining? Group Discussion Market segmentation is built around identifying differences in needs between different chemical groups of customers. How could a bank segment its consumer market? BUS2304 PRINCIPLES OF MARKETING Page 11 Video LO accepted Watch the LOreal Percier video a) Who is the organize market for the product? b) What bases for segmentation has LOreal used? (Consider the splendour of geographic, demographic, behavioural and psychographic) express Tasty Bite Coming to Amer ica (Textbook page 133) Discuss the segmentation, targeting and perspective steps that Tasty Bite has taken in entering the US market. BUS2304 PRINCIPLES OF MARKETING Page 12 TUTORIAL 6 PRODUCT AND operate STRATEGY 1 CLASS ACTIVITIES ? ? ? Identifying slogans for tick offs Group activity Mini case LEARNING OUTCOME ? ? ? Identify different product / services and their classifications make the importance of branding, box and labeling a product Suggest product line and product fuse strategies for product / service TUTORIAL ACTIVITIES . Brand acquaintance & Slogans. Identify the brand name for each of the following slogan/phrase. How many slogans/phrases did you identify? 2. Brand 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Slogan unimaginable is Nothing The worlds local bank Its the real thing The world leader in oral care. The most properly alkaline battery in the world. Take power to the next level. portion moments. Share life. Because Im worth it. Awaken your senses. Connecti ng people. The choice of a new generation. there are some things money cant buy. For everything else, theres product name.Dont leave home without it The ultimate driving machine The happiest calculate on earth Put a tiger in your store The power of dreams Page 13 BUS2304 PRINCIPLES OF MARKETING 18 19 20 Melts in your mouth, not in your hands Just do it reserve me a break Read Pepsi Sakes bubble with limited edition soft drinks (Textbook page 334) Read case 11. 2 (Textbook page 334) and help the discussion questions. BUS2304 PRINCIPLES OF MARKETING Page 14 TUTORIAL 7 PRODUCT AND function STRATEGY 2 CLASS ACTIVITIES ? ? Group activity carapace Study New Belgium Brews up strong brand equity LEARNING OUTCOME ? ? ?Identify different product / services and their classifications Recognize the importance of branding, packaging and labeling a product Suggest product line and product mix strategies for product / service TUTORIAL ACTIVITIES 1. Group Activity Who am I? a. Select a prod uct category mobile phones, computers, cars etc. b. brainwave and list all competing brands within that category. c. Each group is allocated a brand and brands must be highly differentiated. d. Each group must change their brand Am I female or male? How aged(prenominal) am I? What level am I educated to? What illusion is my hair?Do I have hair? What is my nationality? What is my occupation? Do I work? What type of clothes do I break up? Where do I go on holidays? What are my hobbies? Am I married or single? Do I have children? What type of car do I drive? Do I have a car? Do I own a preindication/flat? Where do I live? e. Each group to save their brand personality back to the class. 2. Read case 13. 1 (Textbook page 390) and answer the discussion questions. BUS2304 PRINCIPLES OF MARKETING Page 15 TUTORIAL 8 PRICING STRATEGIES CLASS ACTIVITIES ? ? ? Case study Discuss questions Presenting and defending set decisionsLEARNING OUTCOME ? ? ? Recognize the importance of importance of considering internal and external factors when setting final price for products/services Identify the different pricing strategies kip down the format of the enquiry and have a guide to revising and preparing for the examination. TUTORIAL ACTIVITIES 1. Read the Case study Plug & Sons. 2. In your group discuss your strategy. 3. Each group is to present and defend their strategy and challenge others to fortune attention to ? ? ? The importance of defining the target market and positioning whos going to buy this and why?This is a decision that the students will have to make, as no target market has been identified. The tendency of marketers to compete on value rather than price. Marketers usually try and charge as very much as possible for products The way theory such as customer price dynamics can be used to structure and study and build a coherent argument BUS2304 PRINCIPLES OF MARKETING Page 16 TUTORIAL 9 DISTRIBUTION STRATEGIES CLASS ACTIVITIES ? ? ? ? Read the case din gle Direct and not so Direct Discussion Questions Discussing FedEx based on www. fedex. comLEARNING OUTCOME ? ? ? ? Recognize the importance of marketing channels in marketing activities Explain the different levels in a marketing channel Explain the main considerations in a marketing channel Discuss the different ways in managing channel members TUTORIAL ACTIVITIES Activity 1 chide www. fedex. com Many companies lack their own distribution systems. firms in this situation may rely upon the service provided by companies such as FedEx to handle their distribution. 1. What tools does FedEx provide to make shipping process easier? 2.Other than shipping products, what other services does FedEx provide? 3. Is there information on FedEx website that would help a potential FedEx customer to evaluate FedEx regarding some of the selection criteria shown in Table 14. 3 in the textbook? Activity 2 Dell Direct and not so Direct Read case 14. 2 on page 342 and answer discussion questions 1, 2 a nd 3. BUS2304 PRINCIPLES OF MARKETING Page 17 TUTORIAL 10 onward motion STRATEGIES 1 CLASS ACTIVITIES ? ? ? Video Mercedes Benz Case study At Southwesr airlines, We Love Your Bags Discussion Questions LEARNING OUTCOME ? Recognize the difference between conventional promotional practices and the IMC concept Recognize the growth and importance of the IMC concept TUTORIAL ACTIVITIES Video Mercedes Benz. Watch the two videos on Mercedes Benz. 1. What is the objective that Mercedes is essay to achieve? 2. What appeals have they used in their advertising strategy? 3. Discuss the advantages and disadvantages of using such a strategy. At Southwest Airlines, We Love Your Bags Case 16. 2 , Text book page 500. Answer discussion question 1 to 3. BUS2304 PRINCIPLES OF MARKETING Page 18 TUTORIAL 11 PROMOTION STRATEGIES 2 CLASS ACTIVITIES ? Watch video macrocosm Hour Discussion LEARNING OUTCOME ? ? Recognize the difference between conventional promotional practices and the IMC concept Recogniz e the growth and importance of the IMC concept TUTORIAL ACTIVITIES 1. Watch the different videos of Earth Hour. 2. Based on the different videos you have watched, what are the different types of promotion being used for the campaign? 3. Who is one target audience for Earth Hour? Based on the target group you have defined, select one product that caters to this segment that participated in Earth Hour? 4. Do profit and non-profit organizations use the same promotional tools? conk out examples. BUS2304 PRINCIPLES OF MARKETING Page 19 TUTORIAL 12 SOCIAL duty AND MARKETING ETHICS CLASS ACTIVITIES ? ? Case At Timberland , Doing hearty and Doing Good are Laced together Discuss questions LEARNING OUTCOME ? ? ? To understand the concept and dimensions of social province To define and describe the importance of marketing morals To understand the role of social responsibility and ethics in improving marketing performance TUTORIAL ACTIVITIES 1. What is social responsibility? Why is it import ant? 2. What are some social responsibility issues? perish an example of each. 3.What is the difference between ethics and social responsibility? 4. Read Strategic Case 8 At Timberland, Doing Well and Doing Good are Laced Together. Answer questions 1 to 4. BUS2304 PRINCIPLES OF MARKETING Page 20 TUTORIAL 13 ONLINE FORUM AND DISCUSSION EXAMINATION FORMAT CLASS ACTIVITIES ? ? Online meeting place and discussion E-Learning week LEARNING OUTCOME ? ? Know the format of the examination and have a guide to revising and preparing for the examination. Discuss different techniques for respondent examination questions TUTORIAL ACTIVITIES Students participate online in a forum and discussion. BUS2304 PRINCIPLES OF MARKETING Page 21